+279.42(+2.67%)

-14.93(-0.55%)

-166.97(-0.67%)

-16.08(-0.22%)

Forex Analysis: EUR/USD Classic Technical Report 11.26.2012

Prices broke above the 23.6% Fibonacci expansion level at 1.2830 to challenge long-term trend line resistance set from May 2011 (now at 1.3008). A break above that would mark a major trend reversal, initially exposing 1.3129. The 1.2830 mark has been recast as near-term support, with a drop below that exposing the 1.27 figure and the 38.2% Fib at 1.2620. We continue to hold short.